Pure Storage, Inc. (NYSE:PSTG) Director Andrew William Fraser Brown Sells 20,564 Shares

Pure Storage, Inc. (NYSE:PSTG) Director Andrew William Fraser Brown sold 20,564 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the completion of the sale, the director now directly owns 24,400 shares in the company, valued at $1,276,364. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Pure Storage Stock Down 4.6 %

PSTG opened at $49.46 on Friday. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $50.02 and a 200 day moving average price of $41.17. The company has a market cap of $16.07 billion, a PE ratio of 290.94, a price-to-earnings-growth ratio of 6.79 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million during the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. Sell-side analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Pure Storage

Hedge funds have recently bought and sold shares of the business. Naples Money Management LLC acquired a new stake in Pure Storage in the 4th quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new stake in Pure Storage in the 1st quarter valued at about $25,000. Global Retirement Partners LLC acquired a new stake in Pure Storage in the 3rd quarter valued at about $28,000. LM Advisors LLC acquired a new stake in Pure Storage in the 4th quarter valued at about $28,000. Finally, Principal Securities Inc. purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley upped their price target on shares of Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. TD Cowen upped their price target on shares of Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Bank of America upped their price target on shares of Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on shares of Pure Storage from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of Pure Storage in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.63.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.